Archrock, Inc. (NYSE:AROC) Position Increased by Barclays PLC

Barclays PLC lifted its holdings in Archrock, Inc. (NYSE:AROC) by 124.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 302,610 shares of the energy company’s stock after buying an additional 167,648 shares during the quarter. Barclays PLC owned approximately 0.17% of Archrock worth $6,125,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Archrock by 6.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock worth $230,000 after purchasing an additional 713 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Archrock during the second quarter valued at $213,000. Raymond James & Associates grew its position in shares of Archrock by 10.7% during the second quarter. Raymond James & Associates now owns 137,212 shares of the energy company’s stock worth $2,774,000 after acquiring an additional 13,274 shares during the last quarter. &PARTNERS grew its position in shares of Archrock by 87.1% during the second quarter. &PARTNERS now owns 24,130 shares of the energy company’s stock worth $488,000 after acquiring an additional 11,234 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Archrock by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 69,200 shares of the energy company’s stock worth $1,399,000 after acquiring an additional 1,200 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on AROC. Royal Bank of Canada upped their target price on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Evercore ISI started coverage on Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Citigroup began coverage on Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price target for the company. Finally, Mizuho initiated coverage on Archrock in a report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.17.

Archrock Stock Performance

Shares of NYSE AROC opened at $24.03 on Friday. Archrock, Inc. has a 1 year low of $14.39 and a 1 year high of $27.05. The firm has a market cap of $4.21 billion, a P/E ratio of 26.41 and a beta of 1.59. The stock has a fifty day moving average price of $23.29 and a two-hundred day moving average price of $21.22. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26.

Archrock (NYSE:AROC) last announced its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. During the same quarter last year, the business posted $0.20 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. Research analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a $0.175 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 annualized dividend and a dividend yield of 2.91%. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is currently 76.92%.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.